The amount of activity surrounding token trades on Bitcoin has increased to its highest level in over two years. Exchanges have started to occur between coins from hundreds of Bitcoin wallets that had been idle for some time.
Large-scale Bitcoin holders’ movements have traditionally preceded moments of high price volatility.
The spike was highlighted by bitcoin specialist Ali, who stated that the greatest influx of the year was over $1.6 billion in Bitcoin, which was sent to accumulation addresses in just the last week.
Experts believe that the world’s largest cryptocurrencycurrency’s significant increase in activity from dormant “whale” wallets may be a sign of impending price volatility.
This spike in engagement from cryptocurrencycurrency industry heavyweights has traders bracing for volatility, as Bitcoin is already up 128% year on year.
Read also: Bitcoin (BTC) Price Surges 12.5% in 24 Hours, Trading Around $57,400
